Despite increased sales Biopetrol retracts a loss
Baar, Switzerland - Biopetrol Industires AG, the Switzerland-based producer of biodiesel and high quality pharmaceutical-grade glycerine, reported a net loss of EUR 15.8 million for the first half 2011 (first half of 2010: EUR 10.3 million) including one-off restructuring costs of approximately EUR 1.6 million.
Sales excluding energy tax increased by 230.6 % to EUR 315.5 million (first half of 2010: EUR 95.4 million) and EBIT was EUR -10.4 million (first half of 2010: EUR -4.8 million). “The BIOPETROL team has continued its focus on reducing the cost structure and improving operational efficiencies of the business. One of the consequences was incurrence of one-off restructuring costs.”, said Maarten Roelfs, Chief Executive Officer of Biopetrol.